Gemini Space Station, Inc. (GEMI), Thursday issued a communication discussing a plan to exit and wind down its operations in the United Kingdom, the European Union and other European jurisdictions, and Australia to reduce operating expenses and boost profitability.
If it comes into action, the plan would result in a reduction in force of up to 200 global employees, including employees in Europe, the United States, and Singapore, and representing approximately 25% of the company's total global workforce as of February 4, 2026.
Additionally, the company expects the plan, estimated to be completed in the first half of 2026, to incur pre-tax restructuring and related charges of approximately $11 million.
Currently, GEMI is trading at $6.86, down 6.47 percent on the Nasdaq.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.